Engagement expected to scale to tens of thousands of
commercial buildings nationwide in the months ahead
VANCOUVER, Feb. 16, 2021 /CNW/ - mCloud Technologies
Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the
"Company"), a leading provider of asset management solutions
combining IoT, cloud computing, and artificial intelligence ("AI"),
today announced it had signed a Memorandum of Understanding ("MOU")
with Fidus Global, LLC ("Fidus Global") to commence sales,
implementation, and ongoing field services for mCloud's AssetCare™️
segment for Connected Buildings in the
United States.
Fidus Global is poised to immediately target over 5,000
commercial buildings from multi-site national retail brands,
including outlets, warehouses, distribution centers, and light
industry plants, to bring the full scope of AssetCare solutions to
notable brands across the United
States, including the Company's indoor air quality, HVAC
optimization, and refrigeration monitoring capabilities. In the
months ahead, mCloud and Fidus Global plan to expand the scope of
this recent engagement to tens of thousands of commercial buildings
across the country.
Fidus Global is a full-service controls engineering firm based
in Arkansas with over 125 years of
industrial automation experience and led by former executives from
Amazon, FedEx, Tyson Foods, and Walmart. mCloud provides Fidus
Global with the ability to offer AI-powered solutions. Fidus Global
provides mCloud with a trusted partner capable of rapid scale who
can help connect new sites to the AssetCare platform and coordinate
with mCloud's AI-assisted Live Operations team to resolve field
issues with customers.
"We are very excited to join forces with Fidus Global in our
rapidly growing business for Connected Buildings," said Dr.
Patrick O'Neill, mCloud's President
for North America. "Because Fidus
Global already has a solid customer base with large multi-site
building portfolios, we expect to quickly add thousands of
connected assets at a low cost of customer acquisition."
"We have seen the demand for our AssetCare indoor air quality
and building efficiency solutions reach new heights as we continue
to add buildings to our portfolio through our previously announced
campaign in New York and
California," O'Neill added. "The
performance and compliance provided by AssetCare along with the
highly qualified expertise that Fidus Global brings to customers is
a perfect match to meet that demand nationwide."
"We look forward to working with mCloud to swiftly deploy
AssetCare among our customers who are seeking solutions to fully
re-open their businesses," said Aarron
Hale, President of Fidus Global. "mCloud's AI capabilities
and subscription-based business model combined with the experience
we possess in automation design, integration, and ongoing
maintenance is a powerful offering for our customers."
About mCloud Technologies Corp.
mCloud is creating a more efficient future with the use of AI
and analytics, curbing energy waste, maximizing energy production,
and getting the most out of critical energy infrastructure. Through
mCloud's AI-powered AssetCare™ platform, mCloud offers complete
asset management solutions in five distinct segments: commercial
buildings, renewable energy, healthcare, heavy industry, and
connected workers. IoT sensors bring data from connected assets
into the cloud, where AI and analytics are applied to maximize
their performance.
Headquartered in Canada with
offices worldwide, the mCloud family includes an ecosystem of
operating subsidiaries that deliver high-performance IoT, AI, 3D,
and mobile capabilities to customers, all integrated into
AssetCare. With over 100 blue-chip customers and more than 59,000
assets connected in thousands of locations worldwide, mCloud is
changing the way energy assets are managed.
mCloud's common shares trade on the TSX Venture Exchange under
the symbol MCLD and on the OTCQB under the symbol MCLDF. mCloud's
convertible debentures trade on the TSX Venture Exchange under the
symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
About Fidus Global, LLC.
Fidus Global is a full-service controls engineering firm with a
diverse set of expertise from heavy manufacturing to eCommerce. The
core team at Fidus Global is comprised of former Amazon, FedEx,
Tyson Foods, and Walmart.com engineers, and has over 125 years of
experience within industrial software and hardware automation. We
deliver industry leading automation solutions to our customers,
from project design to integration, and ongoing maintenance and
service.
Aarron Hale, President of Fidus
Global, spent four years in avionics with the US Navy, four years
with Federal Express where he developed and maintained warehouse
control systems ("WCS"), and four years at Amazon where he
engineered supply chain fulfilment automation, robotics, and WCS
integration solutions. Mr. Hale also spent a year with Walmart,
where he managed Walmart's next-gen eCommerce WCS implementation
including material handling equipment, conveyor design, engineering
contracting, purchasing, reliability, maintenance, and automation
controls. He started Fidus Global in 2020 to disrupt commercial
automation by offering scalable open-architecture, customer-centric
solutions. For more information, visit
www.fidusglobal.com.
Forward-Looking Information and Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Such forward-looking information and forward-looking
statements are not representative of historical facts or
information or current condition, but instead represent only the
Company's beliefs regarding future events, plans or objectives,
many of which, by their nature, are inherently uncertain and
outside of the Company's control. Generally, such forward-looking
information or forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or may contain statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "will
continue", "will occur" or "will be achieved". The forward-looking
information contained herein may include information related to the
growth in targeting and connecting buildings in the United States with Fidus Global.
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of the Company is speculative and
subject to several risks as discussed under the heading "Risk
Factors" on pages 29 to 46 of the Company's filing statement dated
October 5, 2017. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information and forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended.
In connection with the forward-looking information and
forward-looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes
that the assumptions and factors used in preparing, and the
expectations contained in, the forward-looking information and
statements are reasonable, undue reliance should not be placed on
such information and statements, and no assurance or guarantee can
be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws. All subsequent written and oral
forward- looking information and statements attributable to the
Company or persons acting on its behalf is expressly qualified in
its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE mCloud Technologies Corp.